SMTC Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 2 - ASC 606 Revenue From Contracts With Customers (Tables)

Note 2 - ASC 606 Revenue From Contracts With Customers (Tables)

9 Months Ended

Sep. 30, 2018

Notes Tables

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

		Balance at December 31, 2017				Adjustments Due to ASC 606				Balance at January 1, 2018

Assets
Inventories		$	22,363			$	(3,414	)		$	18,949
Unbilled contract assets			—				3,734				3,734

Shareholders’ Equity
Total shareholders’ equity		$	19,074			$	320			$	19,394

		Balances Without Adoption of ASC 606				Effect of Change				As Reported


Unbilled contract assets		$	—			$	8,503			$	8,503
Inventories			36,294				(7,922	)			28,372

Total shareholders’ equity			32,814				581				33,395

		Without Adoption of ASC 606				Impact of change				As reported

Revenues
Revenue		$	52,008			$	1,669			$	53,677

Cost of sales			46,882				1,558				48,440
Gross profit			5,126				111				5,237
Income tax expense			145				—				145
Net income			753				111				864

		Without Adoption of ASC 606				Impact of change				As reported

Revenues
Revenue			130,533			$	4,743			$	135,276

Cost of sales			117,398				4,508				121,906
Gross profit			13,135				235				13,370
Income tax expense			405				—				405
Net income			540				235				775